Key Takeaways
- PSX partners with UK’s MOBILIST to boost private investment in sustainable projects.
- The program aims to use public markets to increase private capital for climate-related initiatives.
- Eligible businesses will gain access to equity investment, technical assistance, and advisory support.
The Pakistan Stock Exchange (PSX) has entered into a strategic partnership with the United Kingdom’s MOBILIST program to enhance private investment in sustainable development and climate-related projects through listed financial products.
MOBILIST, a UK development finance program, focuses on investing in products listed on public markets in emerging and developing economies to mobilize private capital for sustainable development. The program also conducts research on leveraging public markets to increase private investment.
Under the partnership, MOBILIST will collaborate with PSX issuers and market intermediaries to identify listed products that could qualify for its support. The program can provide equity capital, technical assistance, and advisory support for initial public offerings (IPOs) and the development of new listed products in Pakistan.
Alison Blackburne, Deputy High Commissioner Karachi, emphasized the importance of this partnership in channeling private investment towards businesses addressing climate and development challenges. She cited the Parwaaz Green Action Bond as an example of how development finance and public markets can work together to attract private capital.
Farrukh H. Sabzwari, Managing Director and CEO of PSX, highlighted that eligible businesses will gain access to equity investment, technical assistance, advisory support, and greater visibility as they move toward listing. He stated that the partnership will help bring more sustainable businesses to Pakistan’s public markets and support projects aligned with the Sustainable Development Goals (SDGs) and net-zero commitments.
The partnership is expected to facilitate the listing of sustainable businesses and projects, thereby increasing their visibility and attractiveness to investors. This move is in line with the global trend of integrating sustainability into financial markets and aligning investments with environmental, social, and governance (ESG) criteria.
By working together, PSX and MOBILIST aim to create a robust ecosystem that supports sustainable development and climate action. The partnership underscores the commitment of both organizations to fostering a more sustainable and resilient economy in Pakistan.
The collaboration between PSX and MOBILIST is a significant step towards mobilizing private capital for sustainable development in Pakistan, potentially transforming the country’s public markets and contributing to the achievement of the SDGs.
